KRS 286.3-040: Who may organize -- Number of directors required.

(1) Any five (5) or more natural persons may organize a corporation for the purpose of

obtaining a charter to transact business as a:

(a) Bank;

(b) Trust company; or

(c) Combined bank and trust company.

(2) The board of directors of a bank, trust company, or c ombined bank and trust

company shall not be less than the number of organizers required for the

corporation under subsection (1) of this section.